ST Telemedia said on Monday that it was considering a bid for Eircom, the Irish telecoms group, in what would be its first significant acquisition outside Asia in several years.

The Singapore state-owned telecoms group said it was currently in the process of evaluating a potential investment in Eircom through Eircom Holdings, the Irish company’s Australia-based parent.

Eircom Holdings, formerly known as Babcock & Brown Capital, owns 57 per cent of Eircom and also a Israeli-based Golden Pages business.